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Rebuilding Ireland Homeloan

  • 07-01-2021 12:29pm
    #1
    Banned (with Prison Access) Posts: 31 ✭✭✭ pearsebhoy
    Banned


    Hi lads, as the title suggests I’m looking for people who have applied for the Rebuilding Ireland Homeloan in Waterford. Were ye approved or denied? What was the process like? How were the council to deal with? Was the price calculator on the website fairly accurate in terms of the loan you received?

    We recently applied for a mortgage through a broker, but because we have quite a few children and the wife only receives Carers Allowance for one of our children as her income, we were approved for very, very little. It looks like this is our only option for a mortgage.

    I emailed the council the other day to enquire about it and they were very prompt with their response and very helpful, which is something I did not expect.

    Thanks in advance


Comments

  • Registered Users Posts: 918 ✭✭✭ gw80
    Registered User


    pearsebhoy wrote: »
    Hi lads, as the title suggests I’m looking for people who have applied for the Rebuilding Ireland Homeloan in Waterford. Were ye approved or denied? What was the process like? How were the council to deal with? Was the price calculator on the website fairly accurate in terms of the loan you received?

    We recently applied for a mortgage through a broker, but because we have quite a few children and the wife only receives Carers Allowance for one of our children as her income, we were approved for very, very little. It looks like this is our only option for a mortgage.

    I emailed the council the other day to enquire about it and they were very prompt with their response and very helpful, which is something I did not expect.

    Thanks in advance

    There,s a lot of info and personal experiences in the housing and accommodation forum on here.


  • Banned (with Prison Access) Posts: 31 ✭✭✭ pearsebhoy
    Banned


    gw80 wrote: »
    There,s a lot of info and personal experiences in the housing and accommodation forum on here.

    Yea bud already had a look and read through there. Unfortunately it’s all dubs and wanna be dubs in Kildare. Was looking to see if anyone had experience with our council


  • Registered Users Posts: 12 ✭✭✭ Proporridge
    Registered User


    pearsebhoy wrote: »
    Yea bud already had a look and read through there. Unfortunately it’s all dubs and wanna be dubs in Kildare. Was looking to see if anyone had experience with our council

    Good luck I’m going through the process in donegal since July and I’ve posted on here a few times never got one of response and I wasn’t even asking for Donegal specially


  • Banned (with Prison Access) Posts: 1,075 ✭✭✭ smellyoldboot
    Banned


    pearsebhoy wrote: »
    Hi lads, as the title suggests I’m looking for people who have applied for the Rebuilding Ireland Homeloan in Waterford. Were ye approved or denied? What was the process like? How were the council to deal with? Was the price calculator on the website fairly accurate in terms of the loan you received?

    We recently applied for a mortgage through a broker, but because we have quite a few children and the wife only receives Carers Allowance for one of our children as her income, we were approved for very, very little. It looks like this is our only option for a mortgage.

    I emailed the council the other day to enquire about it and they were very prompt with their response and very helpful, which is something I did not expect.

    Thanks in advance
    Keep us posted as to how you get on. I've no hello for ya but It's something I'd be looking to access this year too and like yourself most of the posting on the main thread is from Dubs etc. They might as well be referring to the moon for all the relevance it would have to Waterford Council and how they operate. Best of luck with it.


  • Registered Users Posts: 12 ✭✭✭ Proporridge
    Registered User


    Hi everyone

    Looking for some general information. I’ve applied with Donegal County Council, been approved in principal, submitted the valuation, sales brochure etc regarding the property I am purchasing but I’ve hit an issue. They need to send an engineer out to approve the house I’m buying. I’ve been waiting for this to happen for 2 months already and have been told he cannot come out until level 5 restrictions are lifted. I understand this but I’m up against it as contracts have already issued to my solicitor and they are not far off the point they need to be signed. I know there are slightly different procedures on this scheme in each county and I am know some county’s get you to organise your own engineer can I get people to reply below what county you applied with that you got your own engineer as I am trying to get donegal to accept this in these crazy times as otherwise this could go on for months waiting on their engineer and I don’t have months.
    Thanks


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  • Banned (with Prison Access) Posts: 31 ✭✭✭ pearsebhoy
    Banned


    Keep us posted as to how you get on. I've no hello for ya but It's something I'd be looking to access this year too and like yourself most of the posting on the main thread is from Dubs etc. They might as well be referring to the moon for all the relevance it would have to Waterford Council and how they operate. Best of luck with it.

    Cheers boy. Well be applying in April. Fingers crossed. Rents in Waterford City rose the most in the country during the pandemic. Nearly 8%. Eight ****ing percent! Landlords are scumbags, every last one of them. The government is a shambles and this is out of hand. Renting long term in this country will only lead to homelessness. I’ve calculated what we’d need to borrow from a proper bank and it’s more than 3.5 times our income and half of what we pay in rent, yet I wouldn’t be able to pay it? Because of some ****ing 3.5x income - some silly number banks decide to deduct because you have children? Am in a bad place right now and I can’t even imagine how I’ll be if we’re not approved for this


  • Registered Users Posts: 26,242 ✭✭✭✭ Wanderer78
    Banned


    pearsebhoy wrote: »
    Cheers boy. Well be applying in April. Fingers crossed. Rents in Waterford City rose the most in the country during the pandemic. Nearly 8%. Eight ****ing percent! Landlords are scumbags, every last one of them. The government is a shambles and this is out of hand. Renting long term in this country will only lead to homelessness. I’ve calculated what we’d need to borrow from a proper bank and it’s more than 3.5 times our income and half of what we pay in rent, yet I wouldn’t be able to pay it? Because of some ****ing 3.5x income - some silly number banks decide to deduct because you have children? Am in a bad place right now and I can’t even imagine how I’ll be if we’re not approved for this

    to be honest, being a landlord isnt much fun in ireland at the moment, we ve made a fine mess of our property markets, some landlords are cleaning up, some really arent, our current approach is exposing both tenents and landlords, and now with a rise in international property investors, i suspect this will get worse, as demand and rising speculation, will more than likely cause prices to continually rise, what a mess


  • Banned (with Prison Access) Posts: 31 ✭✭✭ pearsebhoy
    Banned


    Wanderer78 wrote: »
    to be honest, being a landlord isnt much fun in ireland at the moment, we ve made a fine mess of our property markets, some landlords are cleaning up, some really arent, our current approach is exposing both tenents and landlords, and now with a rise in international property investors, i suspect this will get worse, as demand and rising speculation, will more than likely cause prices to continually rise, what a mess

    Well it won’t be fixed because our elected officials have a keen interest in the housing market as most of them are wealthy landowners already. I’ve found the whole experience of applying for a mortgage through the banks to be degrading. I’ve never felt so terrible in my life to ge honest. I had one banker call me working poor even. The fact that €1,000 of my wages is automatically excluded from my income by banks because I have children is absolutely disgusting. A persons credit history should hold more weight in this process. My credit is perfect.


  • Registered Users Posts: 26,242 ✭✭✭✭ Wanderer78
    Banned


    pearsebhoy wrote: »
    Well it won’t be fixed because our elected officials have a keen interest in the housing market as most of them are wealthy landowners already. I’ve found the whole experience of applying for a mortgage through the banks to be degrading. I’ve never felt so terrible in my life to ge honest. I had one banker call me working poor even. The fact that €1,000 of my wages is automatically excluded from my income by banks because I have children is absolutely disgusting. A persons credit history should hold more weight in this process. My credit is perfect.

    its a wreck of a system, david mcwilliams done a great podcast on it today, its really all geared towards supporting asset owners, particular property and land owners, and theres known ideas out there, that would help a lot, coop building being one, great to hear theres one in place here in waterford


  • Registered Users Posts: 1,105 ✭✭✭ tombliboo83
    Registered User


    You'd almost be having to win the lottery at this stage to afford a new 4 bedroom house in Waterford, nearly 400k in knightswood! Any idea of how much foxwood is?? There's a dearth of second hand homes on the market as well..


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  • Registered Users Posts: 26,242 ✭✭✭✭ Wanderer78
    Banned


    You'd almost be having to win the lottery at this stage to afford a new 4 bedroom house in Waterford, nearly 400k in knightswood! Any idea of how much foxwood is?? There's a dearth of second hand homes on the market as well..

    its completely fcuked, absolutely disgraceful carry on, we ve fallen back into the same ould ****e, credit fueled building boom, with the exact same outcome, i.e. rising property prices, and you can be damn sure property and land speculation has risen, particularly since all the new development announcements, we re just screwing over the young


  • Banned (with Prison Access) Posts: 1,075 ✭✭✭ smellyoldboot
    Banned


    You'd almost be having to win the lottery at this stage to afford a new 4 bedroom house in Waterford, nearly 400k in knightswood! Any idea of how much foxwood is?? There's a dearth of second hand homes on the market as well..

    €270k upwards for Foxwood. That's big money for Ballybeg in fairness. But Leo and the lads say it's "affordable" they might even subsidise the developers a bit more soon. Gotta keep those prices ever rising and protect their investment portfolio.


  • Registered Users Posts: 735 ✭✭✭ aaaaaaaahhhhhh
    Registered User


    You'd almost be having to win the lottery at this stage to afford a new 4 bedroom house in Waterford, nearly 400k in knightswood!

    I asked for the house prices for there a few months back, its madness, does Frisby think this is Dublin or St James' s Park or something.
    Even with the Help to buy schem thats nuts

    House Type E - 4 Bed Semi - €355,000 (3 Storey) 2,038sq ft
    House Type F - 4 Bed Detached - €385,000 (3 Storey) 2,038sq ft
    House Type C - 3 Bed Semi - €279,999 (2 storey) 1,404sq ft
    House Type J&A - 3 Bed Semi - €269,999 (2 storey) 1,329sq ft
    House Type D - 4 Bed Semi - €290,000 (2 Storey) 1,481sq ft
    House Type H - 4 Bed Semi Detached - €375,000 (2 Storey) 1,856sq ft
    House Type G - 4 Bed Semi - €365,000 (3 Storey) 2,075sq ft


  • Registered Users Posts: 26,242 ✭✭✭✭ Wanderer78
    Banned


    I asked for the house prices for there a few months back, its madness, does Frisby think this is Dublin or St James' s Park or something. Even with the Help to buy schem thats nuts

    Those prices are ridiculous, McWilliams is spot on, every policy that's been introduced has caused prices to increase, ffg are screwed if they continue like this, which I suspect they will. alternatives such as coop building have shown it's possible to build for cheaper, we 're in desperate need of wealth taxes such as a lvt, to stop land speculation, we 're continually screwing over the young, which is just screwing over ourselves


  • Banned (with Prison Access) Posts: 1,075 ✭✭✭ smellyoldboot
    Banned


    Think I will hang fire on buying here anyway. It will all go pear shaped into n short order.

    I'd say we will have emigration rates similar to the 1980s in the aftermath of this covid situation. Pretty much the only thing distracting from how bad Ireland actually is for a lot of people were frequent holidays and city breaks. Having forced people to stay inside its borders for over a year and coupled with the incoming and inevitable recession and never ending cost of living and housing price increases, I can't see anything but a mass exodus/further brain drain from this country.

    Not to mention that those who would be capable of gaining decent employment will soon be asked to pay for the spending during the pandemic. There just won't be much enticing anyone under 40 so to stay.


  • Banned (with Prison Access) Posts: 31 ✭✭✭ pearsebhoy
    Banned


    €270k upwards for Foxwood. That's big money for Ballybeg in fairness. But Leo and the lads say it's "affordable" they might even subsidise the developers a bit more soon. Gotta keep those prices ever rising and protect their investment portfolio.

    Exactly. I know they’re not from Waterford, but the Healy-Reas own 16 ****ing rental properties out in Kerry. How are elected officials meant to help the working class person if they themselves aren’t working class? All they do is pass law that benefit themselves.


  • Registered Users Posts: 26,242 ✭✭✭✭ Wanderer78
    Banned


    pearsebhoy wrote:
    Exactly. I know they’re not from Waterford, but the Healy-Reas own 16 ****ing rental properties out in Kerry. How are elected officials meant to help the working class person if they themselves aren’t working class? All they do is pass law that benefit themselves.

    Ah shur they're just the biggest cowboys in the dail, and everyone knows it, but our housing problems are far more complex than such elected cowboys. We keep electing the same parties that are hardwired with defunct ideologies, they're completely disconnected from the needs of the average person, particularly younger generations, those that do benefit are generally older, and have a completely different set of needs. This is forcing a divide in the country, primarily between the young and the old, the young need to become more voicefull, and need to become more politically active, as this is gradually undermining all of our needs.


  • Banned (with Prison Access) Posts: 31 ✭✭✭ pearsebhoy
    Banned


    Wanderer78 wrote: »
    Ah shur they're just the biggest cowboys in the dail, and everyone knows it, but our housing problems are far more complex than such elected cowboys. We keep electing the same parties that are hardwired with defunct ideologies, they're completely disconnected from the needs of the average person, particularly younger generations, those that do benefit are generally older, and have a completely different set of needs. This is forcing a divide in the country, primarily between the young and the old, the young need to become more voicefull, and need to become more politically active, as this is gradually undermining all of our needs.

    Very true. This rebuilding Ireland home loan is literally our last hope of being able to purchase a home. We can’t even get on the council list as we’re receiving HAP, so if our landlord decides to sell we’re ****ed. 255k is also the highest price the rebuilding Ireland homeloan will be approved for and with a family my size, I’m not going to find many suitable houses. I’m lucky enough to still be working through the pandemic and my children are healthy. I know I should feel grateful, but it’s hard to feel that way when I can’t provide long term security to my family. I feel like an utter failure. Been working pretty much full time since I left college and have nothing to show for it


  • Registered Users Posts: 26,242 ✭✭✭✭ Wanderer78
    Banned


    pearsebhoy wrote: »
    Very true. This rebuilding Ireland home loan is literally our last hope of being able to purchase a home. We can’t even get on the council list as we’re receiving HAP, so if our landlord decides to sell we’re ****ed. 255k is also the highest price the rebuilding Ireland homeloan will be approved for and with a family my size, I’m not going to find many suitable houses. I’m lucky enough to still be working through the pandemic and my children are healthy. I know I should feel grateful, but it’s hard to feel that way when I can’t provide long term security to my family. I feel like an utter failure. Been working pretty much full time since I left college and have nothing to show for it

    its important to realise, you re not a failure, this is decades of failed political ideologies and policies, and its all coming to head now, but we keep defaulting. we ve become over reliant on major elements of the private sector to provide us with this critical human need, i.e. security of accommodation, and its starting to fail dramatically now. the disturbing thing is though, this has been obvious for years now, but we ve decided, everything is grand, keep doing what we have been doing, this is costing us all, and not just financially. i wish you and your family the very best of luck with your application, and again, this isnt your fault, your generation is getting screwed big time


  • Banned (with Prison Access) Posts: 31 ✭✭✭ pearsebhoy
    Banned


    Wanderer78 wrote: »
    its important to realise, you re not a failure, this is decades of failed political ideologies and policies, and its all coming to head now, but we keep defaulting. we ve become over reliant on major elements of the private sector to provide us with this critical human need, i.e. security of accommodation, and its starting to fail dramatically now. the disturbing thing is though, this has been obvious for years now, but we ve decided, everything is grand, keep doing what we have been doing, this is costing us all, and not just financially. i wish you and your family the very best of luck with your application, and again, this isnt your fault, your generation is getting screwed big time

    thanks lad. needed that little bit of a pick me up. really struggling with this lately


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  • Registered Users Posts: 26,242 ✭✭✭✭ Wanderer78
    Banned


    pearsebhoy wrote: »
    thanks lad. needed that little bit of a pick me up. really struggling with this lately

    no worries, it truly isnt your fault, im extremely fcuking angry for people such as yourself, our governments were warned about this over and over again, theyve been told how to solve it, over and over again, but here we are......


  • Registered Users Posts: 130 ✭✭ deise121
    Registered User


    My Wife and I have just applied for this. Does anyone have any experience with it? Are WCC generally strict with the entire application or are they one of the more relaxed councils? Anyone know how long it takes to be approved?


  • Registered Users Posts: 130 ✭✭ deise121
    Registered User


    anyone? bueller?


  • Registered Users Posts: 3 Groggers
    Registered User


    Hi everyone,

    First time to post on here. I applied almost 1 year ago (3rd July) for a home loan through South Dublin Co. Council. They emailed me in November to say it was with the underwriters and then at the end of November it got passed on to the Credit Committee for a decision to be made and here I am still.....no further along. Despite emails that I am sending every month enquiring, with a very vague non-commital reply. It is so so disheartening. I have been on HAP for the last 5 years, my landlords no longer want to deal with HAP and want me out this year. I am divorced and have two almost adult children. I work full time, have great job prospects and I am still am studying. I have more than 20% deposit saved and have a really good credit history and am not in debt. The wait is soul-destroying to find out if it is a yes or no. Trying so very hard to stay positive and patient but this really takes the biscuit. Has anyone had to wait this long and had positive feedback and a good outcome? Seriously, I know Covid has slowed everything down but the council must be staffed by snails. Thanks in advance.


  • Registered Users Posts: 26,242 ✭✭✭✭ Wanderer78
    Banned


    Groggers wrote: »
    Hi everyone,

    First time to post on here. I applied almost 1 year ago (3rd July) for a home loan through South Dublin Co. Council. They emailed me in November to say it was with the underwriters and then at the end of November it got passed on to the Credit Committee for a decision to be made and here I am still.....no further along. Despite emails that I am sending every month enquiring, with a very vague non-commital reply. It is so so disheartening. I have been on HAP for the last 5 years, my landlords no longer want to deal with HAP and want me out this year. I am divorced and have two almost adult children. I work full time, have great job prospects and I am still am studying. I have more than 20% deposit saved and have a really good credit history and am not in debt. The wait is soul-destroying to find out if it is a yes or no. Trying so very hard to stay positive and patient but this really takes the biscuit. Has anyone had to wait this long and had positive feedback and a good outcome? Seriously, I know Covid has slowed everything down but the council must be staffed by snails. Thanks in advance.

    ive no personal experiences in this at all but our housing issues are obviously coming to ahead now, im expecting something serious to change eventually, but nobody knows exactly when or how, i suspect it will require a government change in order to truly occur, so you could be waiting a while. im extremely angered by hearing thes type of stories over and over, theres absolutely no need for it, theres tons of great ideas out there in how to approach this problem, but our government are simply not listening to them.

    i guess the only thing is to keep saving, keep looking, and prepare to move, you have some time on your side here, but i think our housing issues will eventually be addressed, they have to be, we have a fairly good idea of what needs to be done, and how to do it, but.....

    best of luck


  • Registered Users Posts: 3 Groggers
    Registered User


    Hope you got on okay with your application. It is very tough. I know how you feel. I have two dependents and am a one-parent family. My own bank offered me a pittance of a mortgage because of my two dependents, other banks wouldn't even give an offer. My twins will be adults next year and I had over 20% deposit saved. It's having the dependants that is my drawback, despite the fact that their dad contributes his half towards them. It didn't even matter the size of my deposit, that no longer even matters. It's how much you have each month, after they deduct the cost of dependants etc. It completely sucks. I wish you all the best with your application. Hopefully a decision will be made much quicker then mine, which is coming up on the 1 year anniversary of when I applied and still no decision!


  • Registered Users Posts: 26,242 ✭✭✭✭ Wanderer78
    Banned


    Groggers wrote: »
    Hope you got on okay with your application. It is very tough. I know how you feel. I have two dependents and am a one-parent family. My own bank offered me a pittance of a mortgage because of my two dependents, other banks wouldn't even give an offer. My twins will be adults next year and I had over 20% deposit saved. It's having the dependants that is my drawback, despite the fact that their dad contributes his half towards them. It didn't even matter the size of my deposit, that no longer even matters. It's how much you have each month, after they deduct the cost of dependants etc. It completely sucks. I wish you all the best with your application. Hopefully a decision will be made much quicker then mine, which is coming up on the 1 year anniversary of when I applied and still no decision!

    its a bloody mess, i suspect theres many others just like you, so this has to be sorted asap, but again, i suspect its gonna require a change of government to do


  • Registered Users Posts: 3 aishling26





  • Registered Users Posts: 3 aishling26


    Hi,

    Just wondering has anyone been approved the building mortgage?? We have been approved but they keep coming back for more and more stuff?? Did you then have to send more stuff before a drawdown??

    Thanks



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